Denmark: Carlsberg rises as analysts expect it to win market share in Russia in Q2 and Q3

Danish brewer Carlsberg rose as much as 2.5 percent after rival SABMiller's trading update suggested that the slide in Russian beer sales volumes slowed in the quarter to end-March, Jyske Bank was quoted as saying by Reuters on April, 20.

SABMiller said it has maintained its market share in Russia. Carlsberg lost market share in the fourth quarter of 2009, "and we expect that the fall has continued into the first quarter," Jyske Bank says.

"We expect Carlsberg to win market share in the second and third quarter as a result of marketing and the launch of new products," says Jyske Bank, which rates Carlsberg "buy".

Carlsberg is valued at 11.8 times estimated 2011 earnings compared with price-to-earnings ratios of 13.0 and 16 for Heineken and SABMiller, respectively, according to Reuters data.

21 April, 2010